Mr. David Bezanson reports

EMERA INCORPORATED ANNOUNCES THE CLOSING OF THE OFFERING OF US$750 MILLION AGGREGATE PRINCIPAL AMOUNT OF FIXED-TO-FIXED RESET RATE JUNIOR SUBORDINATED NOTES

Eushi Finance Inc. has completed the sale of $750-million (U.S.) aggregate principal amount of United States-dollar-denominated 6.25 per cent fixed-to-fixed reset rate junior subordinated notes due 2056, fully and unconditionally guaranteed by Emera Inc. and Emera U.S. Holdings Inc. Eushi is a direct and indirect wholly owned subsidiary of Emera, and the issuer is a direct, wholly owned subsidiary of Eushi. Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC, Scotia Capital (USA) Inc., BMO Capital Markets Corp., BofA Securities Inc., CIBC World Markets Corp., TD Securities (USA) LLC, and Truist Securities Inc. acted as joint book-running managers in connection with the U.S. note offering.

Use of proceeds

Emera intends to use the net proceeds for general corporate purposes, including, without limitation, to repay existing indebtedness.

About Emera Inc.

Emera is a leading North American provider of energy services headquartered in Halifax, N.S., with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.6 million customers in the United States, Canada and the Caribbean. Its team of 7,600 employees is committed to its purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange, and its common shares are listed and trade on the New York Stock Exchange.

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